The EQT Infrastructure II fund (EQT) has completed the sale of Contanda to institutional investors advised by J.P. Morgan Asset Management.
Acquired in February 2013, Contanda is a premier provider of storage and customised storage related services to owners of bulk liquid products, with a strong market position in the petrochemical, renewable energy and agricultural commodity sectors. Headquartered in Houston, Texas, Contanda has 15 terminals in North America with over seven million barrels of total storage capacity and approximately 275 employees. Contanda’s terminals are strategically located near deep water ports and transportation infrastructure, providing customers access to critical shipping lanes and distribution networks.
Together with the management team, EQT has supported Contanda in accelerating its growth trajectory. During EQT Infrastructure’s ownership, Contanda has strengthened its foothold by expanding capacity, enhancing product diversity, and strengthening operating capabilities. As part of increasing Contanda’s runway for continued future organic growth, EQT has supported the Company in adding new terminal sites in Houston and Stockton, which enable Contanda to progress towards its ambition of more than doubling its current capacity.
Jan Vesely, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, commented: “Contanda has undergone a significant transformation over the past few years. While significantly diversifying its product base and growing in key U.S. markets, Contanda has built a culture of safe operations and uncompromising customer focus. With an experienced team and existing and new strategic assets in place, the Company is well-positioned to execute against the next phase of its growth plan.”
G.R. “Jerry” Cardillo, CEO of Contanda, said: “We have enjoyed a fantastic partnership with EQT over the past six years and have benefitted from their support, vision and vast experience in the bulk liquid storage business. With the support of EQT, Contanda has grown significantly, in terms of both our footprint and capabilities, and we look forward to working with our new partners as we continue on our growth journey.”
For more information visit www.contanda.com